Ontario · CCAA
Application Record of Tacora Resources Inc
Application / notice of application · 10 October 2023
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing3 verified
- financial positionnote: Figures rounded/approximate as stated ('approximately'); total assets table sums to $360,666,000 though narrative states 'approximately $360,660,000'. · page: 40 · as at: 2023-07-31 · basis: unaudited net book value per Tacora's monthly report for the month ended July 31, 2023 (the 'July Balance Sheet'), described as the most recent balance sheet prepared by the Company · scope: Tacora Resources Inc. (entity-level, per July Balance Sheet; contrast with the audited consolidated financial statements for FY2022 referenced separately) · currency: USD · total assets: 360666000 · total liabilities: 427545000
- secured creditorsnote: Prose in para 67 approximates combined secured debt (Cargill + Senior Noteholders) at 'approximately $298 million'; exact chart figures used here. · page: 42 · as of: October 9, 2023 (Broking Affidavit) · amount: 34717648 · debtor: Tacora Resources Inc. · creditor: Cargill (CITPL) – Advance Payments Facility (APF) · currency: USD · security: Advance Payments Facility; First Ranking $4,717,648 (Margin Advances and Prepay Advances); Second Ranking $30,000,000 (Initial Advances) – shares collateral/security package with Senior Noteholders under intercreditor agreement
- secured creditorsnote: Prose in para 67 approximates combined secured debt (Cargill + Senior Noteholders) at 'approximately $298 million'; exact chart figures used here. · page: 42 · as of: October 9, 2023 (Broking Affidavit) · amount: 261802884 · debtor: Tacora Resources Inc. · creditor: Senior Noteholders (Senior Notes / Senior Priority Notes) · currency: USD · security: Senior Secured Notes due 2026 and Senior Priority Notes, secured by substantially all Canadian assets, held via Notes Trustee/Notes Collateral Agent; First Ranking $27,521,634 (Senior Priority Notes); Second Ranking $225,000,000 principal Senior Notes plus $9,281,250 unpaid interest – shares collateral/security package with Cargill under intercreditor agreement